The world’s largest online companies – including giants like Amazon, Google, Meta, Apple, Tencent and Netflix – have all seen their revenue skyrocket since the Covid-19 pandemic, with a global shift toward online products and solutions fueling their growth.
According to data presented by Stocklytics.com, Meta and Alphabet saw the highest revenue growth between 2020 and 2024, each surging by an impressive 91% and outperforming all other online giants in this period.
Meta’s journey over the past decade has been dramatic, and the company emerged as one of the most resilient players in the tech landscape. Privacy concerns, regulatory scrutiny, and scandals like the 2016 US election fake news and the Cambridge Analytica scandal brought a massive public backlash, forcing Meta to adjust its strategies. In response, the company focused more on Instagram and WhatsApp, invested a lot of money into AI to fight misinformation and hate speech, and prioritised user privacy.
The real test came three years later, with the 2022 stock crash whipping hundreds of billions in Meta’s market value and the company reporting its first-ever revenue drop, leading to severe cost-cutting measures and a massive wave of layoffs. Yet, Meta made a comeback again. By 2024, the company reported a record $164,5-billion in revenue, 22% more than a year before and a massive 91% increase over five years.
Google’s parent company, Alphabet, was the only other Internet giant that saw bigger growth than that, with its revenue surging by 91,7% in this period. No other online company was even close in terms of percentage growth. For instance, Apple grew by 42,4% in five years, Netflix by 56%, PayPal by 48%, and Alibaba and Tencent by roughly 20%. The -commerce giant Amazon was the closest to Meta and Alphabet in percentage growth, with a five-year revenue increase of 65,2%.
Still, Jeff Bezos’ company leads in absolute revenue gains. Statistics show that Amazon’s revenue soared by $251-billion since 2020, 50% more than Alphabet’s, twice as much as Apple’s, and three times more than Meta’s.
While Meta and Alphabet led in revenue growth over the past five years, Netflix reported the highest stock value gain, with a 281% increase since January 2020.
Meta follows Netflix with a 228% increase, while Apple (170%) and Alphabet (140%) round out the top performers.